Foodchains Restaurant Loyalty App And Qiibee Blockchain Token Protocol Partner
Foodchains Loyalty App Establishes Partnership With Qiibee For New Blockchain-Based Cryptocurrency
Qiibee is a loyalty token that is based out of Switzerland, helping many brands globally to maintain a record of their loyalty programs on a public blockchain. However, in effort to expand their services, Qiibee have established a partnership with foodchains, creating a new cryptocurrency token.
Foodchains features its own app, which is directly connected with the China-based loyalty rewards program that they host. Anyone that participates on the app will earn FAN tokens whenever they make a purchase with one of the restaurants connected to foodchains. They will still need to scan the QR code, but they can earn additional tokens when they post a review of the eatery or participate in other activities related to the app community.
Conveniently, the restaurants that they earn points for will also allow users to redeem their points for purchases. According to the CEO and co-founder of foodchains, Clement Lee, smaller restaurants:
“often struggle with traditional loyalty programs and reward systems as a result of their limited size and high integration costs. Blockchain technology allows us to streamline the execution and administration of our loyalty program with near real-time transparency, resulting in cost savings that can be realized in the medium term.”
The two places that foodchains appears to be targeting for their tokenized loyalty programs are Wheelys Cafe, which hosts 900 separate cafes, and 60 other restaurants in Shanghai. Foodchains plans to have long-term collaborations with Qiibee, hoping to move to a “viral adoption” of their joint loyalty program.